FAQ – Target group analysis
Analysis of target groups
A target group analysis has always been the most important area when it comes to professional marketing. Advertising agencies try to analyze demographic, personal and many other criteria and make them available for advertising campaigns of any kind. This is to minimize wastage and to find the largest possible group of buyers for the respective product. In times of the internet, the search has become much easier because many users leave traces on the net which can be used to define the ideal target group.
Interests of target groups
When defining a target group, the respective interests are particularly interesting, because they can have an extreme influence on the quality. In addition, they provide information about the needs and thus a buyer clientele can be narrowed down extremely well. Purchasing power also plays a decisive role, as it determines the classification in the competitive analysis and in market segmentation. If you have several similar products in different price categories (Basic, Standard, Premium), then you should orient your sales strategy accordingly.
Which ones are there?
The next step in the classification of target groups is to select specific potential buyers who can be considered as buyers for a specific product. This is often due to the distinction of certain interests or needs. Almost all factors play a role here, because otherwise you have wastage that can actually be avoided. The product to be marketed plays a decisive role here due to its specific characteristics, the region in which it is sold or other factors.
In the final target group definition, the marketing strategy is tailored and automated to the respective target group. Here, the customer can satisfy his own wishes and needs by putting together the product himself. This can be done with a configurator or similar tools. For example, a product filter can also be installed to take all variants into account.
How are target groups classified?
You can roughly distinguish between 4 different target group segments. In the first target group segmentation, no distinction is made at all, because the advertised product does not need a distinction. These are products that have a huge buyer potential and are equally popular with all people.
The second target group definition divides the population into segments that are suitable for the advertised product in terms of gender, age or income. These are usually quite a large number of potential buyers and this classification often results in high wastage, but also in a large number of buyers.
One strategy should be enough
In any case one should decide on a strategy. Companies that mix several strategies are often not successful. In modern online marketing, campaigns in social media can target potential buyers or collect valuable data.
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